CBE: Gold reserves grow by 12.7%, reaching $ 8.258 Bn by November-2023end

According to the latest data from the Central Bank of Egypt, released recently on its official website, revealed an increase of 12.72% in the gold balance included in foreign exchange reserves reaching $8.258 bn at the end of last November, compared to $ 7.326 bn at the end of December 2023, with an increase of $932 mn.

On a monthly basis, Egypt's gold reserves increased by 1.98%, to record $8.258 bn by the end of November 2023, compared to $8.098 bn by the end of October 2023, with an increase of $160 mn.

Gold constituted about 23.48% of the total foreign exchange reserves, which amounted to $35.173 bn by the end of November 2023.

The balance of Special Drawing Rights (SDRs) surged to $38 mn by the end of November 2023, compared to $13 mn by the end of December 2022. with an increase of $25mn, thus accounting for 0.11% of the total foreign exchange reserves.

The value of foreign currencies included in the foreign exchange reserves increased to $26.879 bn by the end of November 2023, compared to $26.669 bn by the end of December 2022, representing 76.42% of the total foreign exchange reserves.

It is worth noting that total foreign exchange reserves rose to record $35.173 bn at the end of November 2023, compared to $35.102 bn at the end of the previous October, an increase of $71mn, on a monthly basis.